Volterra Technologies LP Makes New Investment in United Rentals, Inc. $URI

Volterra Technologies LP acquired a new position in shares of United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 723 shares of the construction company’s stock, valued at approximately $690,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Salomon & Ludwin LLC boosted its stake in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals in the third quarter worth approximately $29,000. Cedar Mountain Advisors LLC purchased a new stake in United Rentals in the third quarter valued at approximately $32,000. Loomis Sayles & Co. L P acquired a new position in United Rentals during the second quarter worth approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in United Rentals during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.3%

Shares of NYSE URI opened at $736.27 on Friday. The stock has a fifty day moving average price of $867.74 and a 200 day moving average price of $881.40. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a market cap of $46.39 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.19 and a beta of 1.66.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm earned $11.59 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were given a dividend of $1.97 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 1.1%. United Rentals’s dividend payout ratio is presently 20.37%.

United Rentals declared that its board has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

URI has been the subject of several research reports. Citigroup lowered their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Truist Financial set a $972.00 price target on United Rentals in a research report on Friday, January 30th. Royal Bank Of Canada dropped their price target on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research note on Friday, January 30th. Finally, Robert W. Baird set a $970.00 target price on United Rentals in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the sale, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by corporate insiders.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.